Meat market size volume in Saudi Arabia has seen varied performance over the last decade. The market volume stood at 1.52 million metric tons in 2023, marking a marginal year-on-year decline of 0.65%. Significant fluctuations were observed over the years, with a notable drop of 17.58% in 2020. During the last two years, a stable yet slight downtrend was noted with continuous year-on-year decreases. Over the past five years, the compound annual growth rate (CAGR) showed a minimal average decline of 0.1%, reflecting a slight but persistent downward trend in the market volume.
Future trends to watch for include changes in meat consumption patterns driven by evolving consumer preferences towards healthier and sustainable diets. Additionally, any economic or regulatory shifts impacting food production and import policies could further influence market volumes. Monitoring these trends can offer insights into potential market movements in the upcoming years. The forecasted CAGR for the next five years suggests a continued slight decline, averaging at -0.54%, anticipating the market to reduce by around 2.68% over this period.
